7digital chief hails 'transformational' deal for digital music firm 24-7

James Hanley

7digital CEO Simon Cole has hailed his B2B digital music and radio service company’s £2.2 million acquisition of rival 24-7 as “transformational”.

Copenhagen-headquartered digital music firm 24-7 was previously owned by MediaMarktSaturn (MMS), Europe’s largest retailer of consumer electronics, which has become 7digital’s biggest shareholder and one of its largest customers, as part of the deal.

“This is about Europe’s leading retailer of electronic goods and entertainment getting really serious about a digital future,” Cole told Music Week.

“This is ...

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